What Is a Retail System?
Retail merchandise management (RMM), merchandise management systems (MMS), retailsystems, and retail enterprise resource planning (ERP) all designate information systems used byretailers. Retail systems are the enterprise back- and front-office software solutions upon which themajority of retailers rely to manage and support their daily tasks. These systems typically recordproduct performance, which allows the buying personnel to make accurate merchandisepurchasing decisions. Moreover, retail systems have capabilities for tracking inventory, capturingsales data, and managing retail prices. Successful retail operations generally requirecommunication between the supply chain management (SCM) or ERP solutions and the RMMsystem.
Retail Systems Business Drivers and Benefits
Automate business processes to allow retailers to have more time for planning andanalysis
Increase customer loyalty by providing personalized shopping experiences
Reduce markdowns by improving buying decisions with the ability to analyze saleshistory and trends
Analysis of customer purchasing habits to increase sales by offering personalizedpromotions
Replenish stores automatically to reduce inventory cost
Know your inventory to prevent loss
Know where business stands in real time and make accurate business decisions
Increase visibility on transactions and inventory to reduce loss
Reduce the amount of markdowns to increase profit
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"Your people, [TEC] and your product [TEC's decision supportsystem] allowed Racal to quicklyfocus on a highly qualified group of suppliers."
- Greg Cruzan, chief technologyofficer, Racal Instruments Inc.
"I am delighted with the role thatTEC has played in our search for the right system... and could notrecommend [it] highly enough."